Question
TRANSACTIONS Record the following daily transactions in the proper journals. Post to the subsidiary ledgers daily. June 26 Materials Issued Requisition 613 for 50 units
TRANSACTIONS Record the following daily transactions in the proper journals. Post to the subsidiary ledgers daily.
June 26
Materials Issued
Requisition 613 for 50 units of Material T-23 for Job 211. Requisition 614 for 120 units of Material S-16 for Job 218
When you record a requisition for direct materials, you will perform the duties of both the storeroom clerk and the cost clerk (see Chapter 3). The following recording steps are required:
1) Compute the cost and enter the requisition on the materials ledger card.
2) Record the appropriate entries in the materials requisition journal.
3) Post to the job cost sheet.
June 27
Materials Received
300 units at $15.95 each of Material S-16, obtained on Purchase Order 2194, from the Glenshaw Fabricating Company, Voucher 6-72.
When you record the receipts of materials, you will perform the work normally assigned to the storeroom clerk and the voucher clerk (see Chapter 2). The following recording steps are required:
1) Record the receipt on the materials ledger card.
2) Enter the voucher in the voucher register.
Materials Issued
Requisition 615 for 14 units of Material T-23 for Job 220.
June 28
Materials Issued
Requisition 616 for 190 units of Material S-16 for Job 219. Requisition 617 for 110 units of Material P-42 for the Assembly Department.
Remember that issues of indirect materials require a different recording procedure (see Chapter 3):
1) Enter the issue on the materials ledger card.
2) Record the issue in the materials requisition journal.
3) Post to the departmental overhead analysis sheet.
Sale of Finished Goods
Sold 50 bookcases (Stock 129) to the Hornes Department Store for $160.50 each on Invoice 716; terms 2/10, n/30.
For sales, the following recording steps are required (see Chapter 10):
1) Enter the issue on the finished goods stock ledger card.
2) Record the sale in the sales journal.
June 29
Materials Issued
Requisition 618 for 490 units of Material T-23 for Job 219. Requisition 619 for 130 units of Material P-42 for the Finishing Department.
Materials Received
1,000 units at $2.25 each of Material T-23, obtained on Purchase Order 2195, from the Ambridge Glass Company, Voucher 6-73.
Services Received
Repairs to equipment in the Shaping Department performed by South Side Repair for $310, Voucher 6- 74.
For transactions of this type, the following recording steps are required (see Chapter 7):
1) Enter the voucher in the voucher register.
2) Post to the departmental overhead analysis sheet.
Sale of Finished Goods Sold 120 shelving units (Stock 458) to Room Concepts for $32 each on Invoice 717; terms 2/10, n/30.
June 30
Materials Issued
Requisition 620 for 350 units of Material T-23 for Job 218. Requisition 621 for 210 units of Material P-42 for the Finishing Department.
Materials Returned to Storeroom
25 units of Material T-23, originally issued on June 26, Requisition 613, for Job 211. Returned Materials report 70 has been prepared.
Complete the entries normally made by the storeroom clerk and the cost clerk (see Chapter 3). The following recording steps are required:
1) Determine the cost and make the entry (in parentheses) in the Issued section of the materials ledger card.
2) Post to the job cost sheet.
3) Record the return in the returned materials journal.
Sale of Finished Goods
Sold 55 shelving units (Stock 458) to the Innovative Design Company for $32 each on Invoice 718; terms 2/10, n/30.
Services Received
Utilities for factory operations in June, payable to Edison Utilities, Voucher 6-75. The cost of $3,062 should be allocated as follows to the departments:
Shaping $902.00
Assembly 390.00
Finishing 290.00
Building Services 903.00
General Factory 577.00
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